Professor Don Boudreaux exposes on how statistics can be subject to analytical prestidigitation. Statistical legerdemain has frequently been used to mislead the public in order to justify certain policy preferences. In the following video, Professor Boudreaux rebuts the twisted use of statistics to argue the case of US wage stagnation. (hat tip: Dan Mitchell)
Statistics are frequently used as an intellectual cover to what are truly (political or economic) biases founded on heuristics.
Statistics are frequently used as an intellectual cover to what are truly (political or economic) biases founded on heuristics.
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